Royal Bank of Canada Reiterates Buy Rating for Aramark (ARMK)
Several other equities analysts also recently weighed in on ARMK. BidaskClub raised Aramark from a sell rating to a hold rating in a research note on Saturday, September 23rd. Nomura raised their price objective on Aramark from $45.00 to $47.00 and gave the company a buy rating in a research note on Tuesday, October 17th. Zacks Investment Research downgraded Aramark from a hold rating to a strong sell rating in a research note on Wednesday, October 18th. Barclays reaffirmed a hold rating and issued a $45.00 price objective on shares of Aramark in a research note on Thursday, October 19th. Finally, Stifel Nicolaus started coverage on Aramark in a research note on Tuesday, December 19th. They issued a buy rating and a $50.00 price objective for the company. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Aramark currently has an average rating of Buy and a consensus price target of $46.43.
Aramark (NYSE ARMK) opened at $45.44 on Friday. Aramark has a one year low of $32.87 and a one year high of $45.47. The firm has a market capitalization of $11,144.69, a P/E ratio of 30.50, a P/E/G ratio of 1.93 and a beta of 0.47. The company has a quick ratio of 0.86, a current ratio of 1.12 and a debt-to-equity ratio of 2.11.
In related news, Director Sanjeev K. Mehra bought 19,640 shares of the stock in a transaction on Thursday, November 16th. The shares were purchased at an average price of $40.75 per share, for a total transaction of $800,330.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank boosted its holdings in shares of Aramark by 19.0% during the second quarter. Toronto Dominion Bank now owns 3,027 shares of the company’s stock worth $124,000 after purchasing an additional 483 shares during the last quarter. Advisor Group Inc. boosted its holdings in shares of Aramark by 85.7% during the third quarter. Advisor Group Inc. now owns 3,342 shares of the company’s stock worth $136,000 after purchasing an additional 1,542 shares during the last quarter. Highlander Capital Management LLC acquired a new stake in shares of Aramark during the third quarter worth $203,000. HighTower Advisors LLC acquired a new stake in shares of Aramark during the second quarter worth $208,000. Finally, First Republic Investment Management Inc. acquired a new stake in shares of Aramark during the third quarter worth $206,000. Institutional investors and hedge funds own 95.30% of the company’s stock.
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Aramark is a global provider of food, facilities and uniform services to education, healthcare, business and industry, and sports, leisure and corrections clients. The Company operates through three segments: Food and Support Services North America (FSS North America), Food and Support Services International (FSS International), and Uniform and Career Apparel (Uniform).
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